“The Move Could Pit the Crypto Exchange Against Robinhood and Schwab.”, – WRITE: www.coindesk.com
The Crypto Exchange’s Chief Legal Officer, Paul Gwwal, Told Reuters that Coinbase Aims to Offer Digital Versions Through Conventional Exchanges. The Model Could Allow Round-The-Clock Trading, Reduce Transaction Costs and Eliminate Clearing Intermediaries.
However, The Road Ahead Depends on How The Sec Responds. Coinbase is Looking to Secure Either A No-action Letter or An Examption from Enforcement, Both of Wich Weld Provide Cover for Offering These Products in the Us
The Push Marks A Strategic Shift for Coinbase, Which Already OWNS A Broker-Dealer License Through A Dormant Affiliate. IF The Initiative Succeeds, IT Could Position The Company Alongside Retail Brokerages Like Robinhood (Hood) and Charles Schwab (SchW), Which Cater to Amilar Invistor Base, Wich.
Tokenized Equities aren’t yet Legal to Trade in The US, But Platforms Like Kraken Are Piloting Such Offers Overseas. Coinbase’s Timing Aligns with A Friendlier Regulatory Climate Under New Sec Chair Paul Atkins; The agency has dropped several crypto-reated lawsuits and set up a task force Dedicated to Digital Assets.
Still, Grewal Declined to Say WHETHER COINBASE HAD FORMALLY FILED ITS REQUESEST. The Confidentnce That Comes From Clear Sec Guidance Has Been Missing, He Said.
“Exciting? YES. IMPORTANT? ABOLUTELY. BUT BREAKING NEWS? NOT EXACTLY. WE’VE BEEN SAYING SINCE EARLIER THAT THAT THAT The Sec Should Enable Markets to Unlock Token Sec.
“Tokenized Debt, Equity, and Investment Funds Present An Opportunity for Tailorored Regulation for Securities that Are Offered and Traded Via Digitally Native Methods.”
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